Bitcoin's $80,000 buy wall hides a liquidation trap that could send prices toward $78,000
- —US September CPI came in at 3.7% year over year vs. 3.6% expected; core at 2.6% vs. 2.5%
- —October Fed hike odds rose from about 20% to 41% on LSEG pricing
- —Long-term holder realized losses are down about 85% from their Aug. 12 peak
- —Average cost basis of US spot Bitcoin ETF holders sits near $81,500
Why it matters: Holding $80,000 decides whether long liquidations stay dormant or Bitcoin slides toward $78,000 before the Oct. 28 Fed decision.
Source: CryptoSlate